Benzinga | Jul 23, 2021 09:08AM EDT

Churchill Capital Corp IV Stockholders Approve Lucid Business Combination

Churchill Capital Corp IV ("Churchill IV" or "CCIV") (NYSE:CCIV), a publicly traded special purpose acquisition company, announced that in a special meeting held today, its stockholders voted to approve the proposals required to complete its combination with Lucid Motors ("Lucid"), a leader in EV technology which is setting new standards with its advanced luxury EVs.

All of the proposals related to the business combination received overwhelming support from stockholders that voted--approximately 98% of votes cast voted for the proposal to approve the business combination.

The closing of the business combination is expected to occur today, July 23, 2021, subject to the satisfaction or waiver of all closing conditions.

Churchill IV, whose shares of common stock, warrants and units are currently listed on the New York Stock Exchange (the "NYSE"), intends to delist from the NYSE and list the shares of common stock and warrants of the post-combination company, to be renamed Lucid Group, Inc., on The Nasdaq Stock Market LLC ("Nasdaq") under the ticker symbols "LCID" and "LCIDW", respectively, beginning on July 26, 2021. The Nasdaq listing and NYSE delisting are subject to the closing of the business combination and fulfillment of all Nasdaq listing requirements.